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Embracing digital and operating on an Omnichannel approach is the need of the hour. What is also important is working on the effectiveness of the processes. Staying connected to customer and a constant communication is important to reciprocate and cater to their need and requirements.

recover in the coming years.

Luxury goods sales growth among the product sectors became less polarized in FY2019. The growth rate was lower in FY2019 among the sectors that showed the largest growth in FY2018, and higher among those with lower growth rates in FY2018—clothing and footwear, and bags and accessories.

Luxury goods manufacturers have been hit hard by the COVID-19 pandemic. For several months, people have faced restrictions on traveling abroad and there is still uncertainty about when it will be possible to travel more easily between countries. There has been a collapse in inbound tourism across the globe during the lockdown, causing massive fall in traditional retail sales. Duty-free shops that generate sales mainly at airports have been hit badly by the collapse in global travel.

The efficiency of business is mapped to cyclical working, moving away from the price offering which may not be a sustainable option. To focus on delivering value proposition by product options, timely delivery at the right price is the way forward. The ultimate goal is to win the customers’ confidence so that the consumption sees an upward trend.

In addition, Ace Turtle is embedding technology within the physical stores where these brands are sold across India. This will include endless aisle (allowing customers to virtually browse and order instantly, and check stock availability in other retail stores and warehouses), click and collect (online orders can be collected from the retail stores), and ship-from-store for online orders and more.

Aditya Birla Fashion and Retail Ltd (ABFRL) is engaged in the business of manufacturing and retailing branded apparels, footwear and accessories, through its retail stores, multi-brand outlets, departmental stores, online retail platforms and e-commerce marketplaces, across India.

And to make the transition between the online and offline channels seamless and efficient, businesses are compelled to explore modern technologies like Augmented Reality, Endless Isles, etc.

As a silver lining, the COVID-19 pandemic has brought a conclusion to the perennial online vs offline debate. It is hereby clear that the future of retail will be dictated by convergence of all channels and emergence of a truly new multichannel retail.

He further pointed out that the increase of import duty on cotton and cotton fiber may not impact the industry too adversely since the current imports are at a miniscule level. However, this does come at a time when the industry is reeling from an unprecedented increase of raw material prices especially yarn and could send a wrong signal.

Indian companies prepare to buy vaccines for employees

Jewelry and watches

“With focus on Aatmanirbhar Bharat, announcement of establishment of 7 textile parks by Modi government in Budget 2021 should be welcomed with open arms. It’s a big boost for the local textile industry. And, this will help India become a world leader in textile sector. Hon’ble Union Finance Minister Nirmala Sitharaman in her Union Budget 2021 has clearly conveyed a message that this government believes in giving a big shot in the arm of textiles and local manufacturing with special focus on Vocal for Local,”said Anuj Mundra, Chairman & MD, Nandani Creation.

The pace and extent of recovery that started with the opening of stores in Q2 was amplified on the back of a large pent up demand, strong festive spirit and a concentrated wedding season, the company added.

Fossil Group launched its new Virtual Watch Try-On experience across several brand channels including Fossil.com and Watch Station. Expanding on its existing partnership with Tangiblee, the Fossil team rolled-out a web-based, markerless augmented reality feature for watches – a feature that does not require users to download a separate app or additional technical equipment.

Rapid advancements in technology has given enough opportunity to all retail channels to recover from the pandemic triggered stupor.

Excited about the launch of the new store, Aditi Kumari, Channel Partner, Gem Selections, Indiranagar store said, “We are thrilled to be launching Gem Selections premiere store in Bangalore. The brand already has a well-established brand image in the region, and we expect huge sales in the coming years making it one of the most sought-after gemstones store in the city.”

While this sector achieved the second highest FY2019 year-on-year growth of 8.5%, it also saw the largest fall in growth rate compared to FY2018, down by 3.4 percentage points. The eight cosmetics and fragrances companies reporting net profits had the second-highest composite FY2019 net profit margin of all the product sectors, 11.3%, and the highest FY2019 return on assets, 11.4%.

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“City Chic’s specialism in plus size fashion means that Evans fits perfectly within its portfolio of brands, and also allows it further expansion into the UK market. Evans’ stores however have not been included in the acquisition and will close. The brand’s store estate had already been significantly downsized as a result of Arcadia’s CVA in 2019, with its locations lacking destination appeal and struggling to compete with strong online players in the plus size market such as Simply Be and Curvissa, as well as more inspiring plus size ranges by retailers such as New Look, ASOS and Next.

An exclusive selection of collaborative capsule collections will be available in India exclusively on the new website starting January 22, 2021 with highlights of the Birkenstock 1774 collection launching first.

Global consumer goods giant Unilever last week said it was strongly encouraging employees to get vaccinated as soon as possible and floated the idea that it could buy shots to share with people in poorer countries.

the company experienced temporary door closures in geographies affected by rising COVID-19 cases; currently, approximately 40 percent of the full store footprint in Europe, and 17 percent globally of all company-operated doors and franchisee doors are closed, with others operating on reduced hours.

FIPL is a wholly-owned subsidiary of Flipkart Private Limited (FPL), and FPL belongs to Walmart Group.

The company opened three in Uttar Pradesh and one in Jharkhand. The company has also closed one store in the state of Odisha.